Turkcell posts 23.5% surge in revenues for 2Q

Turkcell posts 23.5% surge in revenues for 2Q

The mobile phone operator of Turkey, Turkcell Iletisim Hizmetleri A.S. announced that it has posted robust financial performance despite the impact of the pandemic for the second quarter (2Q) ended June 30, 2021.

Group revenues up 23.5% year-on-year to TRY8.548 billion (USD1.002 billion) with Turkcell Turkey’s strong ARPU and subscriber net add performance, international operations contribution, and higher equipment revenues backed by digital channels, it said.

Three-month net income grew by an even higher y-o-y rate, up 30.6% to TRY1.113 billion. EBITDA up 22.7% year-on-year leading to an EBITDA margin of 40.5%; EBIT up 25.5% year-on-year resulting in an EBIT margin of 20.2%.

"Our growth performance was driven mainly by the increased ARPU and subscriber performance of Turkcell Turkey and the rising contribution of our Turkcell International business due to our successful performance in Ukraine," said Murat Erkan, CEO.

"Considering our financial performance and our expectations for the second half of the year, we revise our 2021 guidance upwards. Accordingly, we increase our revenue growth guidance to around 18% and our EBITDA guidance to around TRY14.3 billion. Due to increased fiber investments and currency fluctuations, we target an operational Capex over sales ratio3 of 21-22%," he added.

Meanwhile, Turkcell Turkey subscriber base up by 617,000 quarterly net additions, the highest Q2 net addition performance since Q217, and 1.3 million total net additions in the first half of 2021.

501,000 quarterly mobile post-paid net additions drove the post-paid subscriber base percentage up to 66.2% at end-June 2021, while the operator also achieved 28,000 Q2 pre-paid net adds in Turkey and recorded 13.7% y-o-y mobile ARPU growth.

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